25-02-2014, 08:02 AM
Typifies condition in China that many businessman mentality keep two set of account and are not able to separate interest of company from personal.
I guess, what Mr Lin did was to pledge his personal stake to borrow from SHK and the money is exit via Eratat. Once the cash is in the Co. - guess what? He probably see eratat as zero while the cash is real. Not sure how much of the bond money has been drawn?
Not sure what is happening now. The CEO (ex cfo) now has to fully account for what is going on. Meanwhile lets wait and see what good could SGX be arranging - another RTO candidate.
Thanks to those who suspect a rat on high interest bond issue. How many conviction will there be - BOD, Auditor, CFO?
I guess, what Mr Lin did was to pledge his personal stake to borrow from SHK and the money is exit via Eratat. Once the cash is in the Co. - guess what? He probably see eratat as zero while the cash is real. Not sure how much of the bond money has been drawn?
Not sure what is happening now. The CEO (ex cfo) now has to fully account for what is going on. Meanwhile lets wait and see what good could SGX be arranging - another RTO candidate.
Thanks to those who suspect a rat on high interest bond issue. How many conviction will there be - BOD, Auditor, CFO?